Bitcoin (BTC) Price Analysis (Aug 08, 2025): Can Bulls Hold $115,500 to Push Toward $120K?

Bitcoin is currently trading around $116,500 and building momentum on the lower timeframes. In our previous analysis, we noted a break below the key support at $115,500, but the price quickly found a strong reaction from the $112,000 liquidity zone. That bounce helped Bitcoin reclaim the $115,500 level, which now acts as short-term support once again. If this momentum continues, the price could push higher in the coming sessions. Let’s break down the current price structure to assess where Bitcoin might be headed next.

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Analyzing the Charts

On the 4-hour chart, Bitcoin recently broke below a consolidation range and shifted into a short-term downtrend after losing the $115,500 support. That breakdown led to a move toward the $112,000 region, where the price found a solid bounce. Since then, Bitcoin has reclaimed the $115,500 level, but this recovery needs confirmation. A successful retest of $115,500 as support would strengthen the case for continued upside and could set the stage for a fresh move higher.

If Bitcoin holds above $115,500 with strength, market sentiment is likely to shift bullish once again. In that case, a retest of the $120,000 resistance becomes likely. This time, with stronger momentum behind the move, Bitcoin has a higher chance of breaking above that level and extending its rally further.

The daily chart shows Bitcoin trading within a descending channel, and a breakout from this pattern would further support the case for a move toward $120,000. The recent push above $115,500 adds strength to the current momentum, but the move still needs follow-through. If Bitcoin fails to hold above this level and loses steam, downside pressure could return, with $110,000 emerging as the next key area to watch.

Final Takeaway: What is Next for Bitcoin (BTC)?

Bitcoin is trading around $116,500 and showing signs of short-term recovery after bouncing from the $112,000 zone. The key level to watch remains $115,500. If the price holds above it, a push towards the $120,000 resistance looks likely. However, if Bitcoin fails to hold this support, we could see another dip, with $110,000 as the next major level. The market still leans slightly bullish, and for now, the Bitcoin price prediction suggests a potential continuation of the uptrend if key levels remain intact.

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